The following comments were made by Dan Norcini @ Jim Sinclair's web site:

"The mining shares are continuing to be viewed as paper assets and as they are further sold down, the ratio between the XAU stock gold index and gold has become so far outside the norm, that something will soon have to snap. This imbalance cannot continue much longer. Some of these stocks are hugely undervalued and should see very swift and quite sever rallies as soon as the discontinuity between themselves and gold gets rectified."